Common use of Letter of Credit Loans Clause in Contracts

Letter of Credit Loans. (i) The Borrowers shall repay to the Administrative Agent for the account of the Issuing Bank and each other Revolving Lender that has made a Letter of Credit Loan, the outstanding principal amount of each Letter of Credit Loan made by each of them, on the earlier of (1) on the Business Day when such Letter of Credit Loan is made, if made on or prior to 1:00 p.m. (New York time), or the succeeding Business Day, if made after 1:00 p.m. (New York time), and (2) the Maturity Date applicable to Revolving Loans. (ii) The obligations of the Borrowers and the Revolving Lenders with respect to Letters of Credit under this Agreement, any Letter of Credit Agreement and any other agreement or instrument relating to any Letter of Credit shall be unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement, such Letter of Credit Agreement and such other agreement or instrument under all circumstances, including, without limitation, the following circumstances: (1) any lack of validity or enforceability of any Loan Document, any Letter of Credit Agreement, any Letter of Credit or any other agreement or instrument relating thereto (all of the foregoing being, collectively, the "L/C Related Documents"); (2) any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations of the Borrowers in respect of any L/C Related Document or any other amendment or waiver of or any consent to departure from all or any of the L/C Related Documents; (3) the existence of any claim, set-off, defense or other right that the Borrowers may have at any time against any beneficiary or any transferee of a Letter of Credit (or any Persons for which any such beneficiary or any such transferee may be acting), the Issuing Bank or any other Person, whether in connection with the transactions contemplated by the L/C Related Documents or any unrelated transaction; (4) any statement or any other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any respect; (5) payment by the Issuing Bank under a Letter of Credit against presentation of a draft, certificate or other document that does not strictly comply with the terms of such Letter of Credit provided that such draft, certificate or other document complies in all material respects with such terms; or (6) any exchange, release or non-perfection of any Collateral or other collateral, or any release or amendment or waiver of or consent to departure from any Guaranty or any other guarantee, for all or any of the Obligations of the Borrowers in respect of the L/C Related Documents.

Letter of Credit Loans. (i) The Borrowers EnergySolutions shall repay to the Administrative Agent for the account of the Revolving Issuing Bank and each other Revolving Lender that has made a Letter of Credit Loan, the outstanding principal amount of each Letter of Credit Loan made by each of them, on the earlier of (1) on the Business Day when such Letter of Credit Loan is made, if made on or prior to 1:00 2:00 p.m. (New York time), or the succeeding Business Day, if made after 1:00 2:00 p.m. (New York time), and (2) the Revolving Maturity Date applicable to Revolving LoansDate, the outstanding principal amount of each Letter of Credit Loan made by each of them. (ii) The obligations Obligations of the Borrowers EnergySolutions and the Revolving Lenders with respect to Revolving Letters of Credit under this Agreement, any Letter of Credit Agreement and any other agreement or instrument relating to any Revolving Letter of Credit shall be unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement, such Letter of Credit Agreement and such other agreement or instrument under all circumstances, including, without limitation, the following circumstances: (1A) any lack of validity or enforceability of any Loan Document, any Letter of Credit Agreement, any Letter of Credit or any other agreement or instrument relating thereto (all of the foregoing being, collectively, the "“L/C Related Documents"”); (2B) any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations of the Borrowers EnergySolutions in respect of any L/C Related Document or any other amendment or waiver of or any consent to departure from all or any of the L/C Related Documents; (3C) the existence of any claim, set-off, defense or other right that the Borrowers EnergySolutions may have at any time against any beneficiary or any transferee of a Letter of Credit (or any Persons for which any such beneficiary or any such transferee may be acting), the Issuing Bank or any other Person, whether in connection with the transactions contemplated by the L/C Related Documents or any unrelated transaction; (4D) any statement or any other document presented under a Letter of Credit proving to be forged, fraudulent fraudulent, invalid or invalid insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (5E) payment by the Issuing Bank under a Letter of Credit against presentation of a draft, certificate or other document that does not strictly comply with the terms of such Letter of Credit provided that such draft, certificate or other document complies in all material respects with such terms; orCredit; (6F) any exchange, release or non-perfection of any Collateral or other collateral, or any release or amendment or waiver of or consent to departure from any Guaranty or any other guarantee, for all or any of the Obligations of the Borrowers EnergySolutions in respect of the L/C Related Documents; or (G) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including, without limitation, any other circumstance that might otherwise constitute a defense available to, or a discharge of, EnergySolutions or a guarantor.

Letter of Credit Loans. (i) The Borrowers Each Borrower shall repay to the relevant Administrative Agent for the account of the relevant Issuing Bank and each other relevant Revolving Lender that has made a Letter of Credit Loan, Loan on the earlier of one Business Day after demand and the Initial Maturity Date the outstanding principal amount of each Letter of Credit Loan made by each of them, on the earlier of (1) on the Business Day when such Letter of Credit Loan is made, if made on or prior to 1:00 p.m. (New York time), or the succeeding Business Day, if made after 1:00 p.m. (New York time), and (2) the Maturity Date applicable to Revolving Loans. (ii) The obligations Obligations of the Borrowers and the Revolving Lenders with respect to Letters of Credit under this Agreement, any Letter of Credit Agreement and any other agreement or instrument relating to any Letter of Credit shall be unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement, such Letter of Credit Agreement and such other agreement or instrument under all circumstances, including, without limitation, the following circumstances: (1A) any lack of validity or enforceability of any Loan Document, any Letter of Credit Agreement, any Letter of Credit or any other agreement or instrument relating thereto (all of the foregoing being, collectively, the "L/C Related Documents"); (2B) any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations of the Borrowers any Borrower in respect of any L/C Related Document or any other amendment or waiver of or any consent to departure from all or any of the L/C Related Documents; (3C) the existence of any claim, set-off, defense or other right that the Borrowers any Borrower may have at any time against any beneficiary or any transferee of a Letter of Credit (or any Persons for which any such beneficiary or any such transferee may be acting), the any Issuing Bank or any other Person, whether in connection with the transactions contemplated by the L/C Related Documents or any unrelated transaction; (4D) any statement or any other document presented under a Letter of Credit proving to be forged, fraudulent fraudulent, invalid or invalid insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (5E) payment by the any Issuing Bank under a Letter of Credit against presentation of a draft, certificate or other document that does not strictly comply with the terms of such Letter of Credit provided that such draft, certificate or other document complies in all material respects with such terms; orCredit; (6F) any exchange, release or non-perfection of any Collateral or other collateral, or any release or amendment or waiver of or consent to departure from any Subsidiary Guaranty or any other guarantee, for all or any of the Obligations of the Borrowers in respect of the L/C Related Documents; or (G) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including, without limitation, any other circumstance that might otherwise constitute a defense available to, or a discharge of, any Borrower or any guarantor (including, without limitation, any Guarantor).

Letter of Credit Loans. (i) The Borrowers Borrower shall repay to the Administrative Agent for the account of the Issuing Bank and each other Revolving Lender that has made a Letter of Credit Loan, Loan on the earlier of one Business Day after demand and the Initial Maturity Date the outstanding principal amount of each Letter of Credit Loan made by each of them, on the earlier of (1) on the Business Day when such Letter of Credit Loan is made, if made on or prior to 1:00 p.m. (New York time), or the succeeding Business Day, if made after 1:00 p.m. (New York time), and (2) the Maturity Date applicable to Revolving Loans. (ii) The obligations Obligations of the Borrowers Borrower and the Revolving Lenders with respect to Letters of Credit under this Agreement, any Letter of Credit Agreement and any other agreement or instrument relating to any Letter of Credit shall be unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement, such Letter of Credit Agreement and such other agreement or instrument under all circumstances, including, without limitation, the following circumstances: (1A) any lack of validity or enforceability of any Loan Document, any Letter of Credit Agreement, any Letter of Credit or any other agreement or instrument relating thereto (all of the foregoing being, collectively, the "L/C Related Documents"); (2B) any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations of the Borrowers Borrower in respect of any L/C Related Document or any other amendment or waiver of or any consent to departure from all or any of the L/C Related Documents; (3C) the existence of any claim, set-off, defense or other right that the Borrowers Borrower may have at any time against any beneficiary or any transferee of a Letter of Credit (or any Persons for which any such beneficiary or any such transferee may be acting), the Issuing Bank or any other Person, whether in connection with the transactions contemplated by the L/C Related Documents or any unrelated transaction; (4D) any statement or any other document presented under a Letter of Credit proving to be forged, fraudulent fraudulent, invalid or invalid insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (5E) payment by the Issuing Bank under a Letter of Credit against presentation of a draft, certificate or other document that does not strictly comply with the terms of such Letter of Credit provided that such draft, certificate or other document complies in all material respects with such terms; orCredit; (6F) any exchange, release or non-perfection of any Collateral or other collateral, or any release or amendment or waiver of or consent to departure from any the Guaranty or any other guarantee, for all or any of the Obligations of the Borrowers Borrower in respect of the L/C Related Documents; or (G) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including, without limitation, any other circumstance that might otherwise constitute a defense available to, or a discharge of, the Borrower or a guarantor.